Texas Straight Talk

A weekly column

The Bailout Surge

This week the bailout of the Big Three automakers was under heavy consideration in Congress’s lame duck session.  I have always opposed government bailouts of private organizations.  Back in 1979 Congress had hearings about bailing out Chrysler and I was on record pointing out that these types of policies are foolish and very damaging to the long term economic health of our country.  They still are. There was also renewed pressure this week to bailout homeowners and send another round of stimulus checks to “Main Street” to balance out all the handouts to big business.  It seems that eventually [continue reading]

11-24-2008, 11:46 AM | 77 Comments

Restricting Freedoms and Choices

As the financial sector continues its tailspin despite efforts to bail out Wall Street, among the few gainers in recent stock trading have been those companies looking for a new “shot in the arm” with government funding from the next administration.   With its strident rhetoric toward reestablishing the so called “pro-choice” agenda, the incoming administration has threatened a whole host of policies that would not only reduce restrictions on abortion, but would actually force people who wish to avoid participating in the procedure to support it. As a physician who has delivered over 4,000 babies I am very disturbed [continue reading]

11-17-2008, 12:54 PM | 106 Comments

Hopes for the Future

With the election behind us, our country turns hopeful eyes to the future.  I have a few hopes of my own.  I congratulate our first African-American president-elect.  Martin Luther King, Jr. certainly would be proud to see this day.  We are stronger for embracing diversity, and I am hopeful that we can continue working through the tensions and wrongs of the past and become a more just and colorblind society.  I hope this new administration will help bring us together, and not further divide us.  I have always found that freedom is the best way to break down barriers.  [continue reading]

11-10-2008, 02:55 PM | 87 Comments

The Moral Hazard of Regulation

Since the bailout bill passed, I have been frequently disturbed to hear “experts” wrongly blaming the free market for our recent economic problems and calling for more regulation.  In fact, further regulation can only make things worse.   It is important to understand that regulators are not omniscient.  It is not feasible for them to anticipate every possible thing that could go wrong with whatever industry or activity they are regulating.  They are making their best guesses when formulating rules.  It is often difficult for those being regulated to understand the many complex rules they are expected to follow.  [continue reading]

11-03-2008, 02:51 PM | 83 Comments

Spending the Economy into Oblivion

With news this week that Congress is poised to consider a new stimulus package, I am forced to again ask a question that seems silly in Washington:  How will we pay for this? While a few Members of Congress have raised the issue, it certainly was not the primary concern of the House Budget Committee when they interviewed Ben Bernanke on Monday.  And, when they did direct this question to the Chairman of the Federal Reserve, his answer was the standard rhetoric about how Congress needed to make tough choices.  Needless to say, not many specifics were discussed. One [continue reading]

10-27-2008, 12:50 PM | 117 Comments

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